Pimco launches first TIPS ETF

The world's biggest bond-fund manager on Monday launched the first of a new line of exchange-traded funds that focus on inflation protection. The Pimco 1-5 Year U.S. TIPS Index Fund (STPZ) is the first of three planned Treasury Inflation-Protected Securities ETFs from the firm, a unit of Allianz (AZ) . The two other ETFs, Pimco 15+ Year U.S. TIPS Index Fund and Pimco Broad U.S. TIPS Index Fund, will launch in early September.

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